Investors with a lot of money to spend have taken a bearish stance on AbbVie ABBV.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with ABBV, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 9 uncommon options trades for AbbVie.
This isn't normal.
The overall sentiment of these big-money traders is split between 33% bullish and 66%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $410,868, and 6 are calls, for a total amount of $310,350.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $150.0 and $185.0 for AbbVie, spanning the last three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for AbbVie's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of AbbVie's whale activity within a strike price range from $150.0 to $185.0 in the last 30 days.
AbbVie 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ABBV | PUT | TRADE | BULLISH | 01/17/25 | $170.00 | $170.1K | 1.2K | 250 |
| ABBV | PUT | TRADE | BEARISH | 01/17/25 | $170.00 | $162.5K | 1.2K | 125 |
| ABBV | CALL | SWEEP | BULLISH | 09/20/24 | $185.00 | $112.8K | 71 | 325 |
| ABBV | PUT | SWEEP | NEUTRAL | 04/19/24 | $155.00 | $78.2K | 1.9K | 6 |
| ABBV | CALL | SWEEP | BEARISH | 02/16/24 | $165.00 | $47.0K | 7.8K | 188 |
About AbbVie
AbbVie is a pharmaceutical firm with a strong exposure to immunology and oncology. The firm's top drug, Humira, represents close to half of the company's current profits. The company was spun off from Abbott in early 2013. The recent acquisition of Allergan adds several new drugs in aesthetics and women's health.
Following our analysis of the options activities associated with AbbVie, we pivot to a closer look at the company's own performance.
Present Market Standing of AbbVie
- Currently trading with a volume of 903,190, the ABBV's price is down by 0.0%, now at $167.5.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 9 days.
Expert Opinions on AbbVie
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $175.0.
- Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for AbbVie, targeting a price of $175.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest AbbVie options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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